The DIAM is the native digital asset that underpins the Diamante Blockchain ecosystem (the “Ecosystem”). We’re excited to educate the Diamante community on key aspects of the DIAM functionality as we bring our applications into the world!
We want to begin by describing three key components of the Ecosystem:
The Ecosystem is anchored by Diamante Net, the native blockchain network. Diamante Net follows the pseudonymous blockchain architecture, supporting both the privately-held blockchain ecosystem and decentralized systems. The power to transmit information is distributed among nodes instead of being driven from one primary source. The entire process of coming to a consensus on the Diamante Net occurs approximately every 3-5 seconds, which is a real-time settlement of the assets.
Real-time settlements within 2-4 sec
75,000 TPS and 100+ million daily transactions
Open-source and interoperable blockchain protocol
We’re super excited to launch PayCircle, our native decentralized finance (“DeFi”) payments application. PayCircle users can send, receive, and custody an array of Fiat and digital assets, and make and receive payments instantaneously, anytime, anywhere, with the lowest fees of any payments solution available Period.
PayCircle enables transactions that are digitally encrypted
Start accepting payments in multiple currencies from across the world
Advanced visibility of the transactions while guaranteeing near zero payment failure
The Diamante Consortium
Our team’s background and experience in the diamonds and luxury goods industries allowed us to establish the Diamante Consortium (the “Consortium”), a group of 400+ businesses across these sectors. The Consortium will serve as a strong initial anchor for use of the Ecosystem and Diamante Net and should drive demand and use for our entire suite of applications and the DIAM itself.
Now that we’ve described key components of the Ecosystem, let’s describe the DIAM’s core functionality and use cases.
Users will be required to hold certain amounts of DIAM to access parts of the Ecosystem and to ensure that accounts are genuine and facilitate the seamless flow of transactions on the network. For example, new users will be required to deposit 20 DIAM to open an account on PayCircle, our flagship payments, and remittances application.
DIAM plays an anti-spam role on the network. Each transaction costs a minor fee of 0.0001 DIAM associated with it. The fee is levied to prevent users with malicious intentions from flooding the network. DIAM works to mitigate attacks that attempt to generate large numbers of transactions or consume large data space in the ledger.
DIAM will be programmatically burned when transactions are processed on Diamante Net. For example, a certain amount of DIAM is programmatically burned every time a payment transaction is processed on PayCircle.
Rewards will be available for various activities across the ecosystem, beginning with airdrop rewards for opening a PayCircle account and one or more digital asset wallets on PayCircle.
DIAM acts as a rewarding mechanism for the validators and archivers to perform transaction validations and historical data maintenance in the ecosystem. There will be three key roles for nodes on Diamante Net:
have nodes configured to watch activity on Diamante Net.
acts as a librarian and maintains the record of the transaction in the network.
vote on and/or validate on-network transactions. Validators can either be “basic” or “full”.
- Coin Ticker: DIAM
- Max. Total Coin Supply: 10 Billion Pre-mined
- New Coin Issuance: Capped
- Coin Burning: Ongoing from transaction activity on Diamante Net
We always look forward to having entrepreneurs, investors, developers, blockchain experts, and crypto enthusiasts on our network. There are numerous opportunities for newcomers to join our ecosystem.
If you are interested, you can sign up onto our network > create an account > and get access to the Diamante products and services. Also, there are various other programs by which you can get involved in our ecosystem.
- Upcoming Bug Bounty Program to help find vulnerabilities and secure the protocol.
- Upcoming Ambassador’s Program to grow the community.
You can either contribute to the community, accumulate points and earn rewards!
We are backed up by the most amazing and experienced team. So you can always reach our talented bunch to get your questions answered or queries solved.
Anyone can join our community, and we’d love to have you! We’ll be following up soon with another post on the plan for the sale and distribution of DIAM.
Please visit www.diamcircle.io for more information on how to access and receive DIAMs as we roll out PayCircle and our AirDrop program.